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United States Micro Irrigation Systems Market is Expected to Reach USD 1.3 billion by 2020: Ken Research

Ken Research announced its latest publication on “US Micro Irrigation Market Outlook to 2020 Growing Water Scarcity and High Efficiency of Drip Irrigation to Stimulate Growth” which provides a comprehensive analysis of the sprinkler and drip micro irrigation system industry in the United States. The report covers various aspects such as market size of micro irrigation industry on basis of revenues and land irrigated, segmentation on the basis of sprinkler and drip irrigation systems, crop type, regions and the equipments of both drip and sprinkler irrigation systems and volume and value of exports and imports for micro irrigation equipments. The report is useful for industry consultants and analysts, farmers, micro irrigation equipments manufacturing companies and new players venturing in the market.

The US Micro Irrigation Market, which comprises of segments such as Drip and Sprinkler irrigation systems, has grown significantly over the last few years due to the increase in the demand from irrigation sector on account of the inclining population and uncertain weather conditions in the country. The micro irrigation industry in the US grew rapidly during 2010-2015 owing to superior efficiency of the systems in water usage and crop yields, easy implementation of fertigation and chemigation, lesser labor requirements and minimized fertilizer / nutrient loss. Several beneficial attributes of micro irrigation systems coupled with water scarcity and drought situations in many states are likely to catalyze the growth of the micro irrigation industry in the near future. The micro irrigation market revenues have grown at a CAGR of ~% from 2010-2015. The industry is quite concentrated with a bunch of players comprising for a major bulk of the overall market. Lindsay Corporation dominated the market in terms of revenues in 2015.

According to the research report, farmer sentiments on investing in micro irrigation system are anticipated to remain low due to reduced net farm incomes and the industry is forecasted to grow at slower pace as compared to 2010-2015 in the short term. Nevertheless, net farm income is forecasted to witness positive growth post 2017 and subsequently augment the growth of the micro irrigation industry in the long term. The micro irrigation market is expected to grow from USD ~ million in 2015 to USD 1.3 billion in 2020 at a CAGR of ~% between 2015 and 2020.

“A company must have a good network of dealer to cater to the demand across the country. Since, sprinkler and drip irrigation systems are individually more suited for a particular segment of crops, companies must make an effort in brand building by judiciously marketing and promoting the right irrigation system for cultivating a particular type of crop. This would help them build their brand in particular segments which would be highly beneficial for the companies in the longer run.” according to the Research Analyst, Ken Research.